Vse Corp Stock Price, News & Analysis

VSE (NASDAQ: VSEC) announced the relocation of its corporate headquarters to Miramar, Florida, co-locating with its Aviation segment headquarters and MRO center of excellence. The strategic move aims to enhance collaboration and create a more interconnected workspace. The company plans to invest $3.5 million in tenant improvements and add 110 new employees over the next five years to support its existing 250 South Florida-based workforce. The new headquarters is situated in the Miramar Park of Commerce between Miami and Fort Lauderdale, adjacent to a planned mixed-use town center development that will offer various amenities to employees.

VSE reported third quarter 2024 results with total revenues of $273.6 million, up 18.3% year-over-year. The Aviation segment achieved record performance with revenue of $203.6 million, a 34% increase. GAAP Net Income was $11.7 million, down 3.8%, while Adjusted EBITDA reached $33.2 million, up 2.6%. The company announced plans to acquire Kellstrom Aerospace for $200 million, expected to close in Q4 2024. VSE increased its full-year 2024 Aviation segment revenue growth guidance to 39-41% while revising Fleet segment guidance to -5% to -10%. The company completed a follow-on equity offering in October 2024, raising approximately $163.8 million to partially fund the Kellstrom acquisition.

VSE (NASDAQ: VSEC) has priced its public offering of common stock at $87.00 per share, offering 1,724,137 shares with an option for underwriters to purchase an additional 258,620 shares. The offering is expected to close on October 17, 2024, with anticipated net proceeds of approximately $142.5 million. VSE plans to use the proceeds to partially finance its acquisition of Kellstrom Aerospace Group, Inc.

The offering is led by Jefferies and RBC Capital Markets as joint lead book-running managers, with William Blair, Stifel, and Truist Securities as joint book-running managers. B. Riley Securities and The Benchmark Company are serving as co-managers. An automatically effective shelf registration statement has been filed with the SEC, and a preliminary prospectus supplement and accompanying prospectus are available on the SEC's website.

VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced a public offering of common stock. The offering includes an option for underwriters to purchase up to an additional 15% of shares within 30 days. Net proceeds will partially finance the acquisition of Kellstrom Aerospace Group, Inc. Jefferies and RBC Capital Markets are joint lead book-running managers for the offering.

The offering is made through an effective shelf registration statement filed with the SEC. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC's website. Interested parties can obtain copies from Jefferies or RBC Capital Markets,

VSE (NASDAQ: VSEC) has announced a definitive agreement to acquire Kellstrom Aerospace Group, Inc., a global distributor and service provider for the commercial aerospace engine aftermarket. The $200 million acquisition, expected to close in Q4 2024, includes $185 million in cash and $15 million in VSE common stock. This strategic move aims to expand VSE Aviation's presence in the growing commercial engine aftermarket, aligning with its OEM-focused strategy and broadening its global footprint.

Key highlights:

• Kellstrom generated approximately $175 million in revenue during the trailing twelve months through August 2024
• Expected synergies of about $4 million
• Anticipates near-term path to 15%+ Adjusted EBITDA margins for Kellstrom
• Pro Forma Net Leverage Ratio expected to be less than 3.5x upon closing

VSE also provided preliminary Q3 2024 results, with revenue estimated between $268-$275 million and Adjusted EBITDA between $31-$34 million.

VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced its participation in three upcoming investor conferences in September 2024. The company's senior management will attend:

1. Jefferies 2024 Industrials Conference in New York on September 4th, featuring a fireside chat at 3:40 PM ET.

2. Gabelli's 30th Annual Aerospace & Defense Symposium in New York on September 5th, with a fireside chat at 2:15 PM ET.

3. 2024 RBC Capital Markets Global Industrials Conference in Las Vegas on September 24th, hosting a breakout session at 9:20 AM PT.

At all events, management will participate in one-on-one investor meetings. Interested parties can contact VSE's Investor Relations for more information or to schedule meetings.

VSE (NASDAQ: VSEC) has announced two key executive appointments. Adam Cohn will join as Chief Financial Officer on September 3, 2024, bringing over 15 years of aerospace and finance experience. He will oversee VSE's financial strategies and lead the global finance organization. Garry Snow will assume the newly created role of Chief Growth Officer on September 16, 2024, leveraging his expertise from Boeing, KLX Inc., and Satair to support future organic growth strategies.

These appointments aim to strengthen VSE's leadership team and drive financial performance and growth. The company's CEO, John Cuomo, expressed confidence in both executives' abilities to contribute to VSE's transformation and market expansion in the aerospace industry.

VSE (NASDAQ: VSEC), a leading aftermarket distribution and repair services provider, has announced its participation in the Seaport Research Partners Annual Summer Investor Conference on August 20th, 2024. John Cuomo, President and CEO, and Michael Perlman, VP of Investor Relations and Treasury, will be available for one-on-one investor meetings during the event. This conference provides an opportunity for VSE to engage with investors and discuss the company's performance and strategies. Interested parties can contact VSE's Investor Relations at investors@vsecorp.com for more information or to schedule a meeting with senior management.

VSE (NASDAQ: VSEC), a leading provider of aftermarket distribution and repair services, has announced a regular quarterly cash dividend. The Board of Directors has declared a dividend of $0.10 per share of VSE common stock. This dividend will be payable on November 20, 2024, to stockholders of record at the close of business on November 6, 2024. This announcement demonstrates VSE's commitment to providing consistent returns to its shareholders and reflects the company's financial stability.